The cryptocurrency world has been turned upside down with the emergence of controversies surrounding the MexC cryptocurrency exchange. For example, suspicious practices and frozen assets were reported, which put Mexico in the eye of the hurricane. The exchange faces serious accusations and user dissatisfaction.
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Wallets and changes
$92,000 in cryptocurrencies evaporated
Seychelles-based cryptocurrency exchange MEXC is currently under fire for questionable activities. Users claim their accounts have been closed and their funds confiscated. While MEXC justifies these actions by citing abnormal trading activity, they have raised concerns within the cryptocurrency world.
The first signs of problems in MexC appeared in mid-December. On X (formerly Twitter), many users have gathered in recent days to accuse MEXC of closing their accounts, confiscating their funds, and ignoring support requests.
according Message in X On the part of a merchant named Vida, suspicious activity resulted in his account being frozen. Additionally, trading profits worth $92,000 were frozen and his order history was deleted.
To make matters worse, the exchange's customer service department did not provide a valid explanation for the account takeover. Customer service was limited to complaining only about abnormal trading activity on the account.
Vida backed up this claim with screenshots of her conversation with MEXC support, where the exchange acknowledged the account closure and the outcome of the investigation conducted by her team.
MexC and new FTX?
According to Vida, MexC is involved in falsifying its liquidity and acting as a market maker. The exchange often bets against users' transactions and acts as a market maker in its own right. However, if a trader makes very high profits, it becomes a problem for the stock market. Sometimes the profit is so great and the deficit that the exchange has to pay the trader is so great that he closes the account immediately.
The merchant also posted screenshots. stock market order bookWhich seemed thicker than other exchanges, including the world's largest exchange, Binance. He concluded his speech by urging users to leave the exchange immediately because it is headed for problems, similar to FTX.
